Will Shiba Inu Price Jump Over 300%? This Analyst Thinks So
10 Novembre 2024 - 7:30AM
NEWSBTC
Experts are confident that Shiba Inu could potentially undergo a
massive price surge on the back of a positive overall outlook on
cryptocurrency. Donald Trump’s victory in the recently concluded US
election brings waves of optimism in the cryptocurrency market
which SHIB Inu can ride on to propel it to a 306% price hike.
Related Reading: XRP On Fire: Analyst Predicts $4 Milestone As
Token Rallies 11% Shiba Inu: Explosive Growth A market analyst
predicted that the price of Shiba Inu could soar by at least 306%,
as the entire cryptocurrency market is going on an overdrive
excited by the results of the US elections. In a post, analyst
Javon Marks said that it could potentially hit the $0.00081 mark,
adding that this price surge is imminent for the meme coin and
being forecasted to happen really soon. Still fairly fresh off of a
confirmed Hidden Bull Divergence and holding broken out, $SHIB
(Shiba Inu), in the midst of a roaring Bitcoin market, can be
getting ready for its next level performance towards the $0.00081
target! This target’s currently over 306% away and a push to…
https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj — JAVON⚡️MARKS
(@JavonTM1) November 8, 2024 “Still fairly fresh off of a confirmed
Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu),
in the midst of a roaring Bitcoin market, can be getting ready for
its next level performance towards the $0.00081 target,” Marks
said. Data showed that the meme coin has formed a Hidden Bull
Divergence pattern. Reports explained that the Hidden Bull
Divergence is a bullish indicator that usually occurs before a
price rally happens. Moreover, analysts said that the
cryptocurrency has already breached the consolidation phase which
could beef up the bullish outlook for the meme coin. Shiba
Inu-Bitcoin Relationship Analysts pointed out that there is a
relationship between the price movement of Shiba Inu and Bitcoin,
saying that any price movement with Bitcoin could also mean price
movement for the meme coin. It is a correlation being monitored by
many analysts as Bitcoin prices are soaring on the back of the
newfound optimism on the overall crypto market. In previous
reports, analysts discussed that Shiba Inu usually trails the price
movement of Bitcoin, showing that there is a strong correlation
between the two cryptocurrencies. They noted that whenever Bitcoin
collapsed, the meme coin’s price also went down. Hence, any massive
hike in Bitcoin could propel Shiba Inu into exponential growth.
Many market observers are predicting that Bitcoin is on track for a
massive price surge and in the last few days, the firstborn crypto
has been hitting an all-time high price per coin. Therefore, BTC’s
predicted price movement could also push Shiba Inu to its projected
price. We aren’t even close to my crypto total MC prediction. Will
it get there? Seems possible and likely imo. $10T+ $SHIB .0002
likely$BONE $50-$100$LEASH $15k-$20k $ETH $17k+$BTC $250k best case
scenario$CRO $2.70$DOGE $2.70-$5 There may be a lot of “projects”
out there… — HorBull™ (@HorBull) November 6, 2024 Related Reading:
SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot—Report
$118 Billion Market Cap Seen Meanwhile, analysts suggested that the
market capitalization of Shiba Inu would soar and its price would
increase by 950% once the market valuation of the global
cryptocurrency reaches the $10 trillion mark. Market commentators
said that if the $10 trillion market cap happens, the meme coin
would be traded at $0.0002 and elevate its market capitalization to
$118 billion. As of writing, the total global market capitalization
of the crypto sector is pegged at $2.61 trillion while the current
market cap of Shiba Inu is about $11.21 billion. Featured image
from Chewy, chart from TradingView
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